Namibia keeps repo rate steady, budget to support

Namibia keeps repo rate steady, budget to support GDP JOHANNESBURG (Reuters) - Namibia's central bank left its lending rate unchanged for the fourth straight meeting, saying that although the economy was resilient, weak global growth has been dragging on the resource-rich country's mineral exports. "The repo rate needs to remain low to support the economy and mitigate, as far as possible, the impact of endured slow growth in many of our trading partners," the Bank of Namibia said in a statement on Wednesday. The bank maintained its GDP forecast of 4.4 percent for 2013, compared with an estimated 5 percent growth rate in 2012. ...

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